Mark Street Depository Limited(The) - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01383494 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 September 2019

for

Mark Street Depository Limited(The)

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

V D Goldstein

A J Shafron

Ms C Reynolds

REGISTERED OFFICE:

3rd Floor, Solar House

1-9 Romford Road

London

London

E15 4RG

REGISTERED NUMBER:

01383494 (England and Wales)

ACCOUNTANTS:

Jones & Partners Limited

3rd Floor Solar House

1-9 Romford Road

London

E15 4RG

FIXED ASSETS

Investment property

4

-

8,470,000

CURRENT ASSETS

Stocks

10,225,892

-

Debtors

5

222,859

3,139,999

Cash at bank

241,353

80,989

10,690,104

3,220,988

CREDITORS

Amounts falling due within one year

6

649,019

166,544

NET CURRENT ASSETS

10,041,085

3,054,444

TOTAL ASSETS LESS CURRENT LIABILITIES

10,041,085

11,524,444

CREDITORS

Amounts falling due after more than one year

7

-

(2,000,000

)

PROVISIONS FOR LIABILITIES

8

(1,693,352

)

(1,565,700

)

NET ASSETS

8,347,733

7,958,744

CAPITAL AND RESERVES

Called up share capital

80

80

Revaluation reserve

9

-

6,367,150

Capital redemption reserve

20

20

Retained earnings

8,347,633

1,591,494

SHAREHOLDERS' FUNDS

8,347,733

7,958,744

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 August 2020 and were signed on its behalf by:

V D Goldstein - Director

1.	STATUTORY INFORMATION

Mark Street Depository Limited(The) is a private company, limited by shares , registered in England and Wales.

The company's registered number and registered office address can be found on the Company Information

page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover represents the total amounts receivable in respect of the Company's principal activity which changed

during the year, from that of a property investment company to a property trading company where turnover is

recognised at the fair value of the consideration received or receivable following legal completion of property

development projects.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

fair value is recognised in profit or loss.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws

that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal

of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

Going concern

The Directors are closely monitoring the impact of COVID-19 on the activities of the Company and they have

reasonable expectations that the company has adequate resources to continue in operational existence for the

foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial

statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2018 - 2 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 October 2018

8,470,000

Disposals

(12,500,000

)

Revaluations

4,030,000

At 30 September 2019

-

NET BOOK VALUE

At 30 September 2019

-

At 30 September 2018

8,470,000

5.

DEBTORS

2019

2018

£

£

Amounts falling due within one year:

Trade debtors

3,285

-

Amounts owed by group undertakings

218,046

-

Other debtors

1,528

194,999

222,859

194,999

Amounts falling due after more than one year:

Other debtors

-

2,945,000

Aggregate amounts

222,859

3,139,999

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

17,790

23,627

Taxation and social security

523,848

45,112

Other creditors

107,381

97,805

649,019

166,544

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Bank loans

-

1,900,000

Other creditors

-

100,000

-

2,000,000

8.	PROVISIONS FOR LIABILITIES

2019

2018

£

£

Deferred tax

1,693,352

1,565,700

Deferred

tax

£

Balance at 1 October 2018

1,565,700

Provided during year

127,652

Balance at 30 September 2019

1,693,352

9.

RESERVES

Revaluation

reserve

£

At 1 October 2018

6,367,150

Transfers

(6,367,150

)

At 30 September 2019

-

10.	RELATED PARTY DISCLOSURES

At the Balance Sheet date, the company is owed £218,046 by its holding company. The loan is interest free and

repayable on demand.

11.	ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of Mark Street Property Limited, a company incorporated in the UK.

12.

CHARGE

A charge has been registered over the freehold property held by the company over debt finance taken by its

holding company.